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Get your taxes done using TurboTax
Yes, you need to enter the Form 1099-R information in TurboTax:
- Go to the personal income section of TurboTax
- Find the Retirement Plans and Social Security menu option
- Start or Update IRA, 401(k), Pension Plan Withdrawals (1099-R)
- Choose Add a Form 1099-R
- Choose I'll type it in myself
- Choose the 1st option to enter distribution from a 401-K plan, retirement plan, IRA, etc...
- Enter you Form 1099-R information and answer the questions to allow TurboTax to determine how to enter your pension distribution on your tax return
Depending on which code you have in box 7 of your Form 1099-R, on one of the screens you may need to indicate that the funds were rolled over to a ROTH IRA:
And on another screen you may have to indicate that you made after-tax contributions to your 401-K plan:
Form 8606 will be populated automatically based on the entries you make in the Form 1099-R section.
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March 6, 2024
7:36 PM